Tata Sons chairman N Chandrasekharan will head the Maharashtra state Economic Advisory Council (EAC) which also includes Karan Adani and Anant Ambani, a government resolution said on Monday. Karan Adani, the CEO of Adani Ports and SEZ Ltd, is the son of Gautam Adani, who is battling allegations of stock manipulation and fraud in Adani [...]
The enforcement directorate has attached Rs 936 crore proceeds of crime and arrested 5 five persons related to crypto currency fraud, Parliament was informed on Monday. Further, under the Foreign Exchange Management Act, 1999 (FEMA), assets amounting to Rs 289.28 crore have been seized and one show cause notice to cryptocurrency exchange Zanmai Labs Pvt [...]
The growth momentum of Indian IT services industry is likely to slow down in the near to mid term as macroeconomic headwinds trigger lower discretionary IT spends, ICRA said on Monday. Ratings agency ICRA sees lower hiring by the IT service companies in the near term given that excess capacities were added in FY2022 and [...]
Benchmark Sensex dropped 334 points on Monday due to intense selling pressure in metal and power stocks as FII outflows dampened investor sentiment. Besides, a sharp decline in the rupee against the US dollar also put pressure on domestic equities, traders said. After losing nearly 500 points, the 30-share BSE index recovered some lost ground [...]
Chief Economic Advisor V Anantha Nageswaran on Monday said the allocation for the Mahatma Gandhi National Rural Employment Scheme (MGNREGS) has been reduced in the Budget for 2023-24 as more funds have been allocated towards Pradhan Mantri Aawas Yojana and Jal Jeevan Mission, which are expected to provide jobs to the same set of workers [...]
Capital markets regulator Sebi has listed the basic dos and don'ts relating to green debt securities to address 'greenwashing' related risks. The generally accepted definition of 'greenwashing' is, 'making false, misleading, unsubstantiated, or otherwise incomplete claims about sustainability of a product, service, or business operation'. To address the concerns of market participants regarding greenwashing, Sebi [...]
Automobile retail sales in India rose 14 per cent in January, as compared to the same month last year, on the back of robust registrations across passenger vehicles, two-wheelers and tractors, dealers' body Federation of Automobile Dealers Associations said on Monday. Total sales across categories last month rose to 18,26,669 units, as compared to 16,08,505 [...]
Petrol doped with 20 per cent ethanol was rolled out on Monday at select petrol pumps in 11 states and union territories as part of a programme to increase use of biofuels to cut emissions as well as dependence on foreign exchange-draining imports. At present, 10 per cent ethanol is blended in petrol (10 per [...]
The government has blocked 232 apps operated by overseas entities, including Chinese for being involved in betting, gambling and unauthorised loan service, according to an official source. Ministry of Electronics and IT (MeitY) has issued orders to block these apps following instructions from Ministry of Home Affairs. "The order to block 138 apps that were [...]
The government has reduced import duty on a number of raw materials such as fish lipid oil, krill meal and algal prime used in the marine sector, to promote domestic production and exports from the segment. The duty on fish lipid oil and algal prime (flour), used in manufacture of aquatic feed, has been reduced [...]
